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To: Robert F. Newton who wrote (13829)	5/13/1998 11:37:00 PM
From: Trader X	Respond to of 17305

Bob, I am bullish on gold, but not as a hedge. I don't see it hedging anything these days, the fact of the matter is that the price oversold below $300/oz. and is being supported to higher prices by hedge funds, now that the trend is up. I haven't pulled the trigger on gold yet -- was waiting for it to pull back to $300 after it's break above that resistance level. Seems to be holding there nicely, but I'll wait for Monday to decide on it. One thing that's holding me back from it is the continuing bull market in stocks. I'm expecting another 4-6 weeks up, with the Naz making 2,000, so I'll likely stay in stocks through mid-June. BTW, I'm developing a taste for second-hand Mexican tree smoke these days. Full flavored, low nicotine. Tx